Reinsurance News
Cyber insurance & reinsurance news
Cyber insurance and reinsurance news, covering the growth of cyber reinsurance underwriting, the risks faced by cyber risk insurer’s, major cyber loss events, cyber reinsurance product development and cyber risk innovation trends.
Cyber risk is an emerging and fast-growing class of insurance and reinsurance business, so our cyber reinsurance news follows industry trends and reports on innovations, industry cyber risk capacity issues, as well as what is happening in the cyber underwriting market.
Corvus delivers “industry-leading” loss ratio of 36%
15th May 2023
Corvus Insurance, an AI-powered cyber specialty insurer, has announced its US “industry-leading” 2022 ultimate loss ratio of 36%. According to the announcement, this figure has been independently verified and includes all lines and all risk capital partner results. The insurer highlighted that its leading loss ratio is indicative of the strength of ... Read the full article
Mosaic partners with Safe Security to offer cyber insurance globally worth $20 million
12th May 2023
Mosaic has announced that it is underwriting primary cyber insurance globally and offering $20 million in capacity across its network of underwriting hubs. The specialty insurer has launched a new coverage in partnership with tech company Safe Security to embed real-time cyber-risk data into its underwriting process. Read the full article
Alta Signa adds Technical Head of Cyber Underwriting
12th May 2023
European boutique Managing General Agent (MGA) Alta Signa has expanded its cyber team with the addition of Mauro Marongiu as Technical Head of Cyber Underwriting Marongiu will be responsible for managing cyber business in Italy, and the wider European large and middle market. He brings significant technical expertise, having previously worked as ... Read the full article
State-backed cyber exclusions at Lloyd’s could cause disputes: RPC
11th May 2023
Proposals by Lloyd’s of London to exclude state-backed cyber attacks from standard cyber insurance policies could lead to disputes between insurers and the businesses they insure, according to analysts at international law firm RPC. Lloyd’s is proposing that state-backed attacks are excluded from standard cyber insurance policies to reduce the insurance ... Read the full article
FERMA urges collaborative approach to address evolving cyber insurance market
10th May 2023
Federation of European Risk Management Associations (FERMA) has called upon the insurance industry to adopt a more collaborative approach to cyber insurance in order to strike a balance between the risk appetite of the market and the coverage requirements of corporate buyers. FERMA has expressed concerns that the cyber insurance market ... Read the full article
We really need to understand what cyber insurance is: Matt Harrison, Moody’s RMS interview
3rd May 2023
As the cyber insurance and reinsurance market continues to develop and expand, with the risk also growing in popularity within the insurance-linked securities (ILS) space, Matt Harrison, Director of Product Management for Cyber at Moody’s RMS, highlights the importance of understanding exactly what cyber insurance is. Read the full article
Munich Re warns of increasing cyber risk accelerated by AI, IoT, geopolitical conflict
2nd May 2023
Munich Re has warned that future cyberattacks will be accelerated by key technology trends such as artificial intelligence (AI), the "metaverse," and expanding IT, Internet of Things (IoT), and operational technology (OT) worlds. While these technologies offer great opportunities for society, businesses, and governments, they also create new attack surfaces, vulnerabilities, ... Read the full article
Coalition launches next generation Cyber Risk Management Platform
2nd May 2023
Cyber insurance provider Coalition has launched the next generation of its cyber risk management platform, Coalition Control. The platform combines cyber risk monitoring, assessment, and quantification tools with third-party risk management and AI-powered assistance to provide unparalleled risk management capabilities to organizations of all sizes. "Releasing the next generation of Coalition Control ... Read the full article
Cowbell and Qualys expand cyber risk partnership
28th April 2023
Cyber insurance provider Cowbell has expanded its partnership with Qualys, a specialist in disruptive cloud-based IT, security and compliance solutions, adding an attack surface intelligence feed from Qualys' External Attack Surface Management (EASM) to assess customer cyber risk. Qualys EASM leverages the Qualys Cloud Platform to assess features from the cyber ... Read the full article
Aon warns BESS operators to boost resilience against emerging cyber threats
25th April 2023
Aon, a global professional services firm, has urged asset owners and operators in the battery energy storage system (BESS) market to enhance their cyber resilience against emerging cyber threats, identifying operational technologies used in BESS control systems as an 'invisible' point of vulnerability. As the energy grid digitalises, cyber attacks are ... Read the full article
DeNexus to partner with NAES Corporation
21st April 2023
NAES Corporation, a provider of operations, maintenance for power generation services companies, has partnered with cyber risk modeller DeNexus, to understand, quantify, plan and mitigate risk of cyber events to critical infrastructure. Through this collaboration, NAES - a company dedicated to optimising the performance of energy facilities across the power generation, ... Read the full article
At-Bay appoints Ari Fischel as Chief Financial Officer
20th April 2023
Cyber insurance provider At-Bay has announced that it has appointed Ari Fischel as its Chief Financial Officer (CFO). An experienced industry veteran, Fischel brings more than 20 years of financial and operational expertise towards At-Bay's executive team. At-Bay also confirmed that Fischel will join the board of At-Bay’s Specialty Insurance Company, Read the full article
Intangic MGA appoints Debbie Durkan as Commercial Director
20th April 2023
Newly launched cyber underwriter Intangic MGA has named Debbie Durkan as Commercial Director to drive growth and distribution. Durkan holds more than two and half decades of industry experience, having most recently served at Marsh, where she was Chief Client Officer for the UK Commercial group. She has also operated as ... Read the full article
Fenix24 appoints Marko Polunic EU managing director
13th April 2023
Cyber disaster recovery firm Fenix24, and sister company of Conversant Group, has announced the appointment of Marko Polunic as managing director for EU operations. Based in Munich, Polunic will spearhead efforts to expand Fenix24's offering into the EU and globally by fostering relationships with ecosystem partners - such as law firms, ... Read the full article
Trium Cyber launches excess program in collaboration with Origami Risk
13th April 2023
Trium Cyber, a Lloyd’s services company providing cyber insurance, risk management, and claims adjudication services, has launched an excess cyber program powered by Origami Risk’s multi-tenant SaaS P&C insurance core solution suite. Through this collaboration, the firms aim to speed first phase of tech implementation in three months; primary cyber underwriting, ... Read the full article
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